What is the use of housing loan contract?
First, the contract can stipulate the size of the loan amount, the longest repayment period and the bank interest rate; Secondly, stipulate the content of breach of contract so as to determine the responsible party in the future; In addition, it can also be used as a voucher, and if the lender fails to perform its obligations according to the contract, the bank can sue on this basis.
There are two repayment methods for housing loans, namely average principal and equal principal and interest. Among them, the average capital, that is, the house price is divided equally within the loan period, and the monthly payment and the interest on the remaining house price are divided equally. This model is quite stressful in the early stage and gradually reduces in the later stage, which is more suitable for high-income borrowers. Equal principal and interest, that is, the same monthly payment, is relatively fixed and suitable for wage earners, but the total interest generated will be much higher than the former, and the pressure will be relatively small.
The loan interest rate is not only fixed, but also floating. Banks often choose the latter when signing loan contracts, and interest rates often change with the benchmark of the central bank. However, under normal circumstances, the interest rate range is unchanged, but the regulations issued by various banks are different and will be slightly adjusted. Therefore, when we apply for a loan, we'd better understand it first and then handle it.
Mortgage repayment is mostly entrusted deduction, that is, the bank that handles the loan will give the applicant the account of the bank, and the monthly repayment amount only needs to be credited to the account before the repayment date, and the bank will deduct the money on its own on the same day. Therefore, when handling the loan, the owner had better check the repayment date to ensure that there will be no delay in repayment, thus causing unnecessary trouble. Of course, the date of repayment, it is best to choose a time with sufficient funds to ensure timely repayment.
What if the house loan contract is lost?
According to the current situation, there are generally four complete purchase contracts, two for the developer, one for the Housing Authority and one for the borrower. If the borrower handles a bank mortgage, then the borrower's contract should be placed in the bank. If the property buyer accidentally loses the loan contract, it can also be remedied in the following ways:
1. The borrower can go to the developer or the housing authority to make a new copy.
2. If the borrower loses the loan contract before the bank mortgage, it is necessary for the borrower to declare the contract invalid. Three months later, he will apply for cancellation of the signed contract with relevant certificates, and then sign a new contract with the developer.
3. If the application for a loan to buy a house is a provident fund loan and there is no original house purchase contract, the borrower can also provide the information proof with the seal of the local house trading center.